Some people have asked me why I am not wearing sackcloth and ashes over the crisis in the Eurozone.
Yes there is a problem, and much of the glee coming from the Anglo-American supporters club at the possible default of the Euro zone failing is to my mind misplaced. The greed from the Anglo-American financial fiasco drew in many European banks and governments into the same "fuzzy mathematical" model, hopefully the lesson is now learnt once and for all and the "greed is good" hypothesis is dead and buried.
The Eurozone is constructed from many disparate viewpoints but all are centered around strong social policies whether it be on the left or the right. The sense of working for each other is strong across most of the union, yes there are nationalist ideals and yet there is a sense of belonging to something greater. Politics has matured and is dissimilar to the Anglo-American free for all, there is still some confidence that our governments can work it out if the panic button isn't pushed.
Stock-markets react generally in panic to the latest rumor and personally I refuse to fall into that trap, the Eurozone works slowly and sometimes even acrimoniously and the slight devaluation of the Euro is welcome as far as my business is concerned. In the next few weeks and even months plans will be drawn up and some abandoned, we will have to help our partners get out of he mess and if it involves a tax increase for us all I'm fine with that.
Rather than screeching about every turn in Europe perhaps the Anglo-American press would be better served worrying about their own, and yes the UK; I am specifically looking at your appalling financials.
So for the moment I still have a head of hair and nothing else is burning.
Gold has dropped like a rock, oil prices are increasing and Greece will not be allowed to default, things will get better. tighter regulations on the financial sector at least here; are guaranteed.
The market should extend its gains "if we continue to get constructive dialogue out of the euro zone as to how they intend to backstop their major financials and some of their sovereign debt issues," said Art Hogan, managing director at Lazard Capital Markets in New York.
http://finance.yahoo.com/...=
I still have confidence in our governments and bureaucrats, gosh; I am really losing touch with home.
;-)